ARTICLES LABELLED WITH TAG Poland

At the end of the Q1 2020, the total supply of modern warehouse space in Poland exceeded the level of 19 million sqm. The Warsaw market (three zones) maintained its leading position and accounted for nearly 23% of the total supply in the country (4.3 million sqm), Colliers International reports.

The strong fundamentals of Warsaw’s office sector, coupled with no risk of oversupply and low vacancy rates, should enable the market to regain equilibrium relatively quickly after the slowdown. Cushman & Wakefield summarised Q1 2020 on the Warsaw office market.

Panattoni has allocated PLN 500,000 (around €110,000) to buy medical supplies for three hospitals. Institutions in Poznań, Białystok and Szczecin were chosen in consultation with the Ministry of Health. As part of the aid, the developer will provide medical masks, nitrile gloves, non-contact thermometers and packs of medical caps.

Generation Park Y, Skanska's highest office project in the CEE region, reached the target height of 140 metres. The building will offer 47,000 sqm GLA with completion planned for Q1 2021.

The COVID-19 crisis has accelerated the adaptation of technology on the residential market with developers across the region now offering digital solutions for prospective home-buyers. Waldemar Olbryk, Board Member responsible for the residential sector at Echo Investment shared his thoughts on the topic.

The industrial market in Poland has been growing at a very quick pace for several years, with record-breaking transaction sizes, new warehouse locations and growing net take-up levels. The focus of analysts is usually on demand as everything starts from tenants looking for warehouse and manufacturing space for their business operations. The warehouse market has been led in recent years by the e-commerce industry, which has been reporting annual growth of over 20%. However, other leading sectors are still logistics and distribution, household appliances, the automotive sector and manufacturing. Experts from Cushman & Wakefield summarised what is the impact of investment funds on the industrial market and why warehouses attract investors.

Cushman & Wakefield has been chosen as the manager of The Warsaw Hub skyscrapers. At the same time, it will occupy nearly 2,500 sqm of office space in the facility, moving its Warsaw office there. Cushman & Wakefield was also responsible for the comprehensive preparation of the building for its commercial opening.

Since the start of this year, Penta Real Estate has closed the sale of three office buildings in its portfolio. After selling Rosum in Bratislava, the company completed a transaction in Poland within a single month by selling the office complex D48 and the office building BCT1 in Košice.

Atrium European Real Estate published an update on trading for the three months ended 31 March 2020 and an update on trading in light of the COVID-19 pandemic. A progressive reopening has been launched from 4 May in Poland and is planned from 11 May in the Czech Republic and 3 June Slovakia, although it is too early to say when the company’s assets will return to full operation.

The ongoing COVID-19 outbreak seems to be having a severely negative impact on market sentiment across the CEE region, according to the latest RICS Commercial Property Monitor. Q1 2020 figures show that both rental and capital value expectations have been downgraded across the region with retail expected to see the sharpest decline and industrial proving to be the most resilient asset class.